Each week, our “What’s on Tap” series previews the week ahead in the world of sports betting. Come here for a summary of upcoming financial happenings, legislative and regulatory meetings, industry conferences, top games scheduled for the week, and much more.
What's On Tap: NFL Preseason, Travers Stakes, College Football Season Opens in Dublin
Monday, Aug. 19
July Revenue Reports Continue To Trickle In
As of Monday morning, 18 states nationwide reported sports betting figures for the month of July. All 18 states reported double-digit holds, illustrating the increased popularity of same game parlays across the country. Of the states that reported July data, Montana tops the list with a hold of 19.3%. Washington D.C. also earned a place in the Top 5 with a 14.2% hold rate, delivering a strong month for a district that just launched an open market.
Last week, New Jersey reported sports betting revenue of approximately $80 million in July, with a hold rate of 12.3%. The rate ranked as the fourth-highest in state history. Pennsylvania, a neighbor of New Jersey, typically reports monthly data several days after the Garden State. Pennsylvania is among the states that could issue monthly reports this week, along with Mississippi, Wyoming, and Arizona.
Thursday, Aug. 22
BMW Championship Tees Off in Castle Rock
Hideki Matsuyama withstood a furious comeback by Xander Schauffele on Sunday to win the FedEx St. Jude Open by two shots. With the victory, Matsuyama moved into third in the FedEx Cup playoff standings, behind Scottie Scheffler and Schauffele. The PGA Tour moves to Colorado this week for the BMW Championship at Castle Rock, the second leg of the FedEx Cup playoffs.
While the Top 50 in the FedEx Cup standings will tee off at Castle Rock, only the Top 30 will advance to the Tour Championship on Labor Day Weekend. Keep an eye on players on the cut this week in Colorado. Davis Thompson, ranked No. 26 in the standings, has odds of +1000 to finish in the Top 5 at Castle Rock. Two golfers below the cut, Tommy Fleetwood and Corey Conners, need strong weeks to extend their seasons. Fleetwood and Conners have odds of +500 and +700 respectively to record a Top 5 finish.
Only two golfers at SuperBook Sports have odds under 10/1 to win the FedEx Cup championship. Scheffler is the overwhelming favorite at 5/6, followed by Schauffele at 5/2. The playoffs conclude on Sept. 1 with the final round of the Tour Championship in Atlanta.
FedEx Cup Championship
(Tour Championship) updatedS Scheffler 5/6
X Schauffele 5/2
H Matsuyama 12/1
C Morikawa 12/1
R McIlroy 14/1
L Aberg 25/1
P Cantlay 50/1
W Clark 60/1
S Theegala 60/1
T Finau 60/1
V Hovland 80/1
S Im 80/1
S Lowry 80/1
J Thomas 100/1
T Fleetwood 100/1— Jeff Sherman (@golfodds) August 18, 2024
Bears Face Chiefs In Final Preseason Tune-Up
Bears quarterback Caleb Williams has lived up to the hype in the preseason. On Monday, ESPN analyst Dan Orlovsky compared Williams' escapability to two Pro Bowl quarterbacks: Patrick Mahomes and Josh Allen. Williams will face Mahomes and the Chiefs on Thursday in the preseason finale for both teams.
Although the Raiders named Gardner Minshew as the team's starter on Sunday, several others have yet to name a starting quarterback. As of Monday, starting QB battles still remain unsettled at the Broncos, Patriots, and Steelers' camps. The battle in Pittsburgh between Russell Wilson and Justin Fields is arguably the most contentious of the preseason.
Broncos quarterback Bo Nix went 8-for-9 in Sunday's 27-2 win over the Packers, finishing with a scintillating QB rating of 140.7. Despite the impressive effort, Broncos coach Sean Payton did not name a Week 1 starter. Meanwhile, Patriots rookie Drake Maye received limited action for a second straight week. At FanDuel, the Broncos and Patriots have steep odds to make the playoffs with both teams at +730 or higher.
The buzz about rookie #Broncos QB Bo Nix is real and I expect the team to name him starter soon. Here’s more 👇🏻👇🏻👇🏻 pic.twitter.com/Cp2BUcOpY7
— Dianna Russini (@DMRussini) August 19, 2024
Saturday, Aug. 24
FSU Opens College Football Season in Dublin
Florida State opens the college football season on Saturday with a matchup against ACC rival Georgia Tech in Ireland. The No. 10 Seminoles have big shoes to fill, as Mike Norvell's team needs to replace quarterback Jordan Travis, running back Trey Benson, and two top receivers in Keon Coleman and Johnny Wilson.
But Norvell has capable replacements in quarterback D.J. Uiagalelei, running back Kam Davis, and wide receiver Malik Benson. A transfer from Alabama, Benson has been tough to jam in preseason camp and has been crisp with his route-running. Florida State has a 36% chance to qualify for the 12-team College Football Playoff, according to ESPN.com. The Seminoles also have odds of 22/1 at bet365to win the national championship, the best of any team in the ACC.
Florida State
+160 to make CFP
+290 to win ACC titleThey're my pick to win the ACC, so even at shorter odds, you have to place a bet on belief. Norvell has rebuilt the culture in Tallahassee and this team should rely more on recruits than transfers (which look good once again).
— Mike McDaniel (@MikeMcDanielSI) August 16, 2024
Thorpedo Anna Takes on The Boys in The Travers
More than 100 years have passed since a filly has won the prestigious Travers Stakes. Thorpedo Anna, the winner of the Grade I Kentucky Oaks, can accomplish the feat with a victory in Saturday's Midsummer Derby.
Unbeaten in four starts this year, Thorpedo Anna (3/1) will break from the rail in the $1.25 million DraftKings Travers Stakes.
The post positions are set for the 155th running of the Grade 1 @DraftKings Travers Stakes!
Who’s your pick to win Saratoga’s Midsummer Derby?! pic.twitter.com/pQ2nfdZSje
— NYRA (🎪) (@TheNYRA) August 18, 2024
Neither Thorpedo Anna, nor Jim Dandy winner Fierceness will go off as the morning-line favorite. On Sunday, Belmont Stakes winner Dornoch was installed as the 5/2 favorite.
Dornoch has notched a pair of Grade I victories this year with wins in the Belmont and the Haskell Stakes. DraftKings will serve as the title sponsor for The Travers for the first time.
Have a good week, everyone!
